Posted on 04/28/2019 2:31:24 PM PDT by Jyotishi
Data from Refinitiv shows the total value of projects in the scheme stands at $3.67 trillion, spanning countries in Asia, Europe, Africa, Oceania and South America.
Initiative to recreate the old Silk Road is to deliver green and high-quality development.
BEIJING: President Xi Jinping on Saturday hailed deals worth more than $64 billion signed during China's Belt and Road Initiative (BRI) this week as he sought to reassure skeptics the project will deliver sustainable growth for all involved.
Xi said market principles will apply in all Belt and Road cooperation projects and that his signature initiative to recreate the old Silk Road joining China with Asia and Europe will deliver green and high-quality development.
"More and more friends and partners will join in Belt and Road cooperation," Xi said in his closing remarks. "The cooperation will enjoy higher quality and brighter prospects."
Data from Refinitiv shows the total value of projects in the scheme stands at $3.67 trillion, spanning countries in Asia, Europe, Africa, Oceania and South America.
Some partner nations have complained about the high cost of projects of BRI, which was launched in 2013, while some western governments view it as a means to spread Chinese influence abroad, saddling poor countries with unsustainable debt.
China said this week it will establish a framework on debt sustainability to "prevent and resolve debt risks" as part of its efforts to allay such fears.
While most Belt and Road projects are continuing as planned, some have been caught up by changes in government in countries such as Malaysia and the Maldives.
China's state asset regulator said on Friday that at least 17 central government-owned firms, including companies such as China Railway Construction Corp and Mengniu Dairy, signed deals at the Belt and Road forum.
These deals totaled more than $20 billion in value, according to Reuters calculations.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
Railway, road links and a pipeline between China and Iran will have immense strategic consequences.
They are going to need a good wide freeway to get their troops to Armageddon.
It’s a Scam to control stupid countries
Maybe you should look into what’s really going on before locking yourself into an opinion.
You might change your mind.
[Its a Scam to control stupid countries]
It’s not really that complicated - people who are brilliant at amassing power are not necessarily any good at actually exercising that power in constructive ways. North Korea’s Kim Il-sung established a dynasty that has ruled the country for 70+ years while driving its economy into the ground. Some people think the Communist Party has done a great job getting China’s economy off the ground. I’d disagree. The Party has had the benefit of some of the world’s highest quality human resources, both in terms of IQ and conscientiousness.
The Party’s 70-year tenure has more or less coincided with South Korea’s rise from African/Chinese levels of poverty to developed country status. Note that South Korea is almost 4x times more densely populated than China and has fewer natural resources per capita. For instance, China produces 4m barrels of oil per day (vs South Korea’s 0). That’s roughly the same as Iraq and Kuwait, both of which are considered major oil producers. China is also the world’s biggest gold producer. And yet China’s economic output per person is merely 1/3 South Korea’s.
Added to what you said, it has always been a failed tactic of these despots to try and force dependence (i.e., Trans-Siberian Pipeline) when they really cannot control either the vehicle (the pipeline or the “road”) or the end users. And, like you say, all they get are more debts (i.e., Cuba).
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.